Subject - account Please help me. Thankyou. Shannon Company segments its income statement into its North and South Divisions. The company's overall sales.contribution margin ratio, and net operating income are $480,000, 36%, and $9,600, respectively. The North Division'scontribution margin and contribution margin ratio are $92,000 and 40%, respectively. The South Division's segment margin is$32,500. The company has $62,400 of common fixed expenses that cannot be traced to either division.Required:Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. Inaddition, for the company as a whole and for each segment, show each item on the segmented income statements as apercent of sales. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3).)Total CompanyAmount%North DivisionAmountSouth DivisionAmount

The divisional income statement is the financial statement that describes the financial performance…

Required: Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3).)

Required: Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3).)

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter10: Cost Analysis For Management Decision Making

Section: Chapter Questions

Problem 7E: Columbia Products Inc. has two divisions, Salem and Seaside. For the month ended March 31, Salem had...

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Columbia Products Inc. has two divisions, Salem and Seaside. For the month ended March 31, Salem had sales and variable costs of 500,000 and 225,000, respectively, and Seaside had sales and variable costs of 800,000 and 475,000, respectively. Salem had direct fixed production and administrative expenses of 60,000 and 35,000, respectively, and Seaside had direct fixed production and administrative expenses of 80,000 and 45,000, respectively. Fixed costs that were common to both divisions and couldnt be allocated to the divisions in any meaningful way were selling, 33,000, and administration, 27,000. Prepare a segmented income statement by division for March.
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